MasterCard second-quarter profit increases 9.8 percent, tops estimate
MasterCard Inc.'s second-quarter net income climbed 9.8 percent, topping analysts' expectations.
The Purchase, New York-based company said profit increased to $931 million, or 80 cents per share, from $848 million, or 70 cents per share, in the same quarter a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for a profit of 77 cents per share.
The company said revenue rose 13 percent to $2.38 billion from $2.1 billion in the same quarter a year earlier, and beat Wall Street forecasts. Analysts expected $2.3 billion, according to Zacks.